03/12/13

£1.26m investment to support Dorset businesses 2014-2015

A new one-stop shop helping businesses access support as well as advice on growth will be launched next year by the Dorset Local Enterprise Partnership (LEP).

The Dorset Growth Hub will be delivered through the Dorset Chamber of Commerce and managed by WSX Enterprise Ltd, a not-for-profit business support organisation, partnering with a range of business support providers both public and private.

The Dorset Business Growth Hub will offer:

  • Business owners in Dorset access to information and advice via telephone, on-line and face-to-face.
  • A web portal that offers self-help solutions for businesses including: 
  1. Access to finance
  2. Marketing and social media
  3. Trading overseas/ international trade
  4. Training and workshops for business
  5. HR and recruitment
  6. Manufacturing
  7. Environmental issues for business
  8. Innovation and research and development
  • ‘Business Navigators’ to mentor businesses on a one-to-one basis, offering advice and bringing in other specialists services as appropriate.
  • Support for businesses wanting to access finance – either in terms of raising finance though bank finance or equity investment.
  • Vouchers to support the costs of innovation activity for businesses. This could be in areas such as design, proof of concept and commercialisation of developments.
  • Similar vouchers towards the costs of internationalisation for a business. This could include trading internationally for the first time or developing new products or services for an overseas market.

The Dorset LEP was set up to invest in different industry sectors across the county to boost business, create new and more highly-skilled jobs and to ensure the county’s infrastructure is in a strong position to promote growth. It is driven by the private sector with local authority support.

Gordon Page, Chair of Dorset LEP, said:

"With support from Lancaster University a number of regions and cities have already greatly benefitted from this fantastic resource, so we are very pleased to have landed this funding. Dorset prides itself on its innovative approach and commitment to supporting businesses grow and reach their full potential.

"Along with the already excellent work happening in the county, the Growth Hub will pave the way to growth as our economy moves further into recovery."

Councillor John Beesley, Leader of Bournemouth Borough Council and Dorset LEP financial & business services champion, said:

"Working together with local people to bring prosperity to the county is at the heart of what we are doing in Dorset. The Growth Hub is a very exciting initiative that will provide a clear centralised point of contact for businesses seeking expert advice.”

Councillor Elaine Atkinson, Leader of Borough of Poole, said: “Dorset is made up of primarily small businesses that often require support in many shapes and guises to survive and to grow. This one stop shop will enable business support advisors to talk to companies, identify their needs and offer real solutions including access to grant funding and finance.”

Graham Ellis, Chairman of WSX, said:

“The Growth Hub will be a welcome addition to the business support landscape in Dorset – giving businesses a focal point for accessing advice and assistance”

Allocation of The Regional Growth Funding will be through Lancaster University. As well as helping to decide which cities’ proposals received funding, Lancaster University Management School knowledge-transfer experts will also be providing on-going support and evaluation of the cities.

Lancaster, which was named as a top-ten university for SME engagement by the recent review by Sir Andrew Witty, was brought in because of its experience and expertise in working with business, local authorities, as well as Local Enterprise Partnerships and growth hubs.

Lancaster has worked with more than 5,000 SMEs since 1999. It has also helped the creation of more than 250 new business and more than 4,000 new jobs.


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